OCEG GRCA Dumps

The key steps in the Assurance Process are Plan, Perform, Report, and Follow-Up. This structured approach ensures that assurance activities are conducted methodically and effectively:

Plan:Define the objectives, scope, and methodology of the assurance activity.

Perform:Carry out the assurance activity based on the defined plan.

Report:Document and communicate findings, conclusions, and recommendations.

Follow-Up:Verify that recommendations are implemented and assess their effectiveness.

These steps help ensure that assurance activities provide valuable insights and drive improvements within the organization.References:

IIA Standards for the Professional Practice of Internal Auditing

COSO Internal Control – Integrated Framework

If follow-up discovers that actions and controls haven't been implemented, it is important to use professional judgment and work with the action owner to understand why the plans have not been implemented. Immediate escalation to the board without understanding the context may not be the most effective approach. Engaging with the action owner can help identify obstacles and facilitate a constructive resolution. Escalation should be considered if there is a significant risk or if there is consistent non-compliance despite reasonable efforts to address the issue.References:

ISO 19011:2018 - Guidelines for auditing management systems

IIA Standards for the Professional Practice of Internal Auditing

Compliance is defined as a measure of the degree to which obligations and requirements are addressed. It involves adhering to laws, regulations, policies, and standards that are relevant to the organization. Compliance ensures that the organization meets its legal and ethical obligations, thereby avoiding legal penalties, reputational damage, and operational disruptions. Effective compliance programs involve continuous monitoring, training, and auditing to ensure all requirements are met and maintained.References:

ISO 19600:2014 - Compliance management systems - Guidelines

NIST SP 800-37 Rev. 2 - Risk Management Framework for Information Systems and Organizations